The stock has closed at a price of 391.65 which is just a fraction short of moving above all important EMA and make it technically bullish.
Fundamentals of the company have significantly improved which is a good sign.
Since the EMA crossover in the month of August we have seen the price hit a fresh high of 452 levels.
During this rise we have witnessed a...
Read the chart from left to right for a clear understanding.
Stock: Allcargo
Trade type – Swing
Buy level: 348.10 (above breakout candle)
SL: 318.75 (below the breakout candle)
Target: 398
Risk/Reward ratio: 1.7
The setup uses price action and two indicators – RSI & MACD for confirmation of the signal.
Chart formed a Gap on 02nd November. Gaps are formed due to...